Multifamily Groups Seek Tenant Insurance Changes

AUSTIN-The Texas Apartment Association is lobbying for the state legislature for a measure to make it easier to offer renter’s insurance to tenants when they sign lease contracts at apartment complexes.

House Bill 1343, sponsored by Rep. Craig Eiland (D-Galveston), would amend the Insurance Code to authorize the state insurance commissioner to issue a specialty license to a residential landlord or a property manager to act as an agent for an authorized insurer for a limited purpose. The bill is pending in the House Business and Insurance Committee. The companion bill, SB 431 sponsored by Sen. John Carona, (D-Dallas), has passed the Senate.

“As affiliates of the Texas Apartment Association, we absolutely support all their efforts to move toward this,” Kristan Arrona, executive director of the Austin Apartment Association, tells GlobeSt.com. “This bill will make it easier for residents to protest their belongings and raise awareness of the importance of this kind of insurance. I think it’s a win-win situation.”